Travel Magic Company Wants to Enter the Hotel Business

Travel Magic Company wants to enter the hotel business. Its marketing managers are brainstorming ideas about why customers go to different hotels and then writing down customer requirements. At this point, Travel Magic is engaging in which step of the seven-step approach for segmenting product-markets?

A) Selecting the broad product-market
B) Identifying potential customers' needs
C) Forming homogeneous submarkets
D) Identifying the determining dimensions
E) Estimating size of each product-market segment